Learning to Love PNC

The Pittsburgh-based bank could benefit from higher fees and renewed loan growth in 2013. How about a little respect from Wall Street, please?

Shareholders of PNC Financial Services Group ought to celebrate the end of a desultory year, in which the bank's shares zigged and zagged but are poised to finish flat. Next year could look a lot better for the Pittsburgh institution, given a growing fee business that could bolster its bottom line.

New commercial and industrial loans could drive earnings growth, as well, as PNC stands to benefit from a strong farm economy, increased fracking activity, and a manufacturing revival in its Midwest turf. If the stock starts to...